How Better Home Data Drives Smarter Single Family Rental Management

Maintaining single family residential properties is an unpredictable process. The HVAC system may shut down in a peak summer month, or the pipes may suddenly freeze amid a winter storm.

Guesswork won’t protect your properties against unexpected risks. But historical data can. Harnessing the power of data analytics will help property managers of residential properties make informed decisions about  – and when– so asset health can be managed before disruptions have a chance to manifest. The difference is transforming your maintenance strategy from one that is reactive to one that is proactive.

Through the power of Lessen’s property data insights, you can make smarter decisions, reduce risk, generate greater cost savings, and have full transparency into the state of the assets that power your residential properties.

How It Works

Both real-time and historical data align with AI technology user protocols to create a fully integrated, end-to-end property management system that proactively identifies inefficiencies, prioritizes tasks, and optimizes the allocation of your resources.

Having greater visibility makes sense since every property tells a story through its data about wear and tear, maintenance needs, and cost patterns. Lessen’s platform consolidates the data from past work orders, vendor performance, and even the assets themselves to help you:

• Address future maintenance needs. Instead of working in the dark, now you’ll know when to repair or replace assets based on their stage in their lifecycle and performance.

• Unlock the path to substantial savings. Removing risk removes reactive costs that can escalate ina short period of time.

• Increase efficiency. Get your property portfolio a path to grow long-term savings.

• Optimize your asset management. Have real-time visibility into the life cycle of your asset inventory.

• Create better spaces. Smarter spaces create happier residents that drive growth.

Improve Your Capital Planning

Another powerful way to use historical data is in your annual capital planning. Capital planning gives you the sharpest lens into both present and future operational costs of every asset in your portfolio. With the most robust data, capital planning can lead to informed spending decisions and prioritize resources to make sure you’re getting maximum profitability from your properties.

Data captured over time at all your residential properties, when paired with Lessen’s analytics technology, will help you shift your capital planning processes from tactical to strategic. You’ll be working with the best data possible, which will help you:

Create financial plans that are more precise. Lessen’s real-time customized reports let you identify precisely where your budget dollars need to go to maximize your budgeted spend and reduce risk. Lessen also gives you the ability to create reports based on recommended spend to help you shape your yearly budget.

Justify every dollar spent. Now you can create budgets that are not just driven by guesswork, but by real numbers, which will help in communicating your needs during the budgeting process.

Know when to repair or replace. Historical data will give you the big picture of an asset, so you know precisely where it is along the life cycle and how much time it has left. That’ll help you make smarter decisions immediately when confronted with whether it needs repair or replacement.

Identify the right vendors: Data from past work orders helps you identify which vendors deliver the best value, ensuring you work with partners who consistently meet your high standards.

Make the Data Work for You

With Lessen, property data isn’t just stored—it’s transformed into insights you can act upon. Lessen’s solutions integrate data seamlessly into your workflow, empowering you to make smarter, faster decisions about the maintenance of all the properties in your portfolio.

The unpredictable nature of asset management creates unending risks. Learn how to transform your data into a tool that will lead to smarter business decisions, greater cost savings, and ultimately a clearer pathway to growth.

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